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After months of negotiations the United States and Mexico have replaced the previous NAFTA agreement with the United States - Mexico Trade Agreement. Canada was not part of the deal, they maybe added later, or not. The pressure is now on the Canadians.

Australia economically is resurgent however Australian politics are in chaos after Prime Minister Malcolm Turnbull resigned with a four way leadership showdown Friday. Australia has ruffled China with it's 5G decision to block Chinese carriers. 

Following on from last week's $15 billion financial package Qatar and Turkey central banks announced a currency swap agreement to provide liquidity and support for financial stability.

The Turkish crisis escalated over the past week and has sent flight risk contagion ripples through emerging markets. The fallout extends to those that are Turkey's biggest lenders. There are five banks most exposed with Spains BBVA the most at risk

Despite world wide investor apathy the Trade War iniiated by U.S. President Trump is quickly escalating. French Finance Minister Bruno Le Maire on Sunday said "he question is no longer whether or not there will be a trade war, the war has already started".

The Euro rallied in relief after Germany’s ruling government came back from the brink. Chancellor Angela Merkel and coalition partner Horst Seehofer, who had threatened to resign, struck a deal on immigration.

The Reserve Bank of Australia and the Reserve Bank of New Zealand have both ruled out issuing offical cryptocurrencies in the near time. They warned on the dangers of financial instability from poor structures and verification processes.

This year’s G7 summit begins Friday in Canada at a time when tensions between the U.S. and the other six nations are on edge. Why, in a nutshell America wants new trade agreements, Germany, France, Italy, Canada, Japan and the U.K. say nope.

Following more uncertainty in Italy since the recent election Moody's Investors Service late Friday placed Italy's debt rating on review for a downgrade. Italy's League calls for anti Euro Paola Savona to be finance minister underscoring "significant risk of a material weakening" in Italian fiscal strength

On the sidelines of the Group of 20 foreign ministers Japan and Australia reiterated that they are to put TPP into effect at an early date. The next day the EU said it welcomes green light to start trade negotiations with Australia and New Zealand.

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